Can Bitcoin realistically power all online transactions in the near future?

[SPIDERMAN008]

I think the use of Bitcoin will increase in all sections in the future. Since Bitcoin gives freedom, a person can use it in any way. The adoption of Bitcoin does not mean that everyone will hold it or use it for transactions. What I understand by the adoption of Bitcoin is that the use of Bitcoin will continue to be used in parallel with fiat currency.

Now suppose a shop owner is holding Bitcoin and he regularly buys Bitcoin. Meanwhile, a customer who has hodl Bitcoin for many years, now he is using frequently. So if that customer wants to buy something by making a Bitcoin transaction with the shopkeeper who has invested in Bitcoin, I think that the shopkeeper will definitely agree. Because the goals of that shopkeeper and the goals of the customer match. In this way, the adoption of Bitcoin can be created in the beginning. If I myself get the opportunity to transact through Bitcoin to buy something, then I will definitely be happy to transact through Bitcoin.

In way when a large community is created in each country who will take transactions through Bitcoin as normal, the use of Bitcoin will increase further. Bitcoin will not only remain a fixed source of trading or investment, Bitcoin transactions will also serve as a better alternative way.

[X-ray]

However, if we look ahead to the next few years, do you think Bitcoin can realistically handle a massive chunk of everyday online commerce? Or will it always remain primarily a settlement layer and store of value, leaving day-to-day transactions to stable coins or other networks?

In line with what others say, I agree that Bitcoin is not capable of handling much larger transaction volumes; it wasn't built for that. I believe from the beginning Satoshi built Bitcoin as an alternative to fiat, not to replace it. Therefore, for the purpose of handling more significant transaction volumes, perhaps other more reliable solutions could be used for that. I see that currently there are Layer 2 solutions claiming they can address these scalability issues, but the question remains how well these solutions work in practice because so far LN has been tested, but it is still not feasible.

Layer 2 works well but it never truly take off, that's the problem even though LN is actively being integrated for corporate payments. It never gets the exposure it deserved.

Speaking from facts, bitcoin's layer 2 are already pretty capable, it can do scripts or contracts and it's fast.

After bitcoin's fee is going cheap as ordinal fading from existence, Layer 2 isn't really needed and growth has been in stagnation.

At least we know that even if in the future Bitcoin need scaling solution, we already got Layer 2 from lightning network to others.

So, it realistically able to power all online transactions by expanding with Layer 2.

But the time hasn't come yet.

[Primark]

It will probably rely on the acceptance by people and technology development. In my personal opinion, Bitcoin will be significant payment alternative on-line. Its utilization is still growing day after day, however. Bitcoin has been called the "store of value" or "digital gold. However, its primary intent was likely to be peer-to-peer electronic cash, initially. So what will happen in the future is not certain. But common sense is that more will adopt Bitcoin only when they know how to use Bitcoin or it becomes easy for them and they are not afraid of the volatility of the Bitcoin market. Currently, Bitcoin is being seen as an investment opportunity. The people are now saving their money in Bitcoin and in future it is predicted to further rise.

[YellowSwap]

Are you asking if Bitcoin can power all online transactions only? That's false, because what will happen to other centralised payment businesses? Bitcoin can't kill other payments solutions to take over all by itself.

We have talked about this many times on the forum, Bitcoin can only and always be an option, I am sorry to burst it all this way, even it's LN can't take over because let's be realistic, there are many payment solutions that are way convenient for some people than Bitcoin.

Many humans still find Bitcoin as means of payment too complicated, and it's because of this is why payment options must not be limited for one, many will always be welcome.

[stompix]

~

This problem does not exist with Lightning, which is what makes it even better for smaller merchants and smaller transactions.

Yes, this problem does not exist when it comes to capacity!
But the capacity problem still persists when you need to migrate people to LN!

So, thre are 4.5 billion Visa cards there, let's say 10 years ? So 450 million users to Lightning each year, 52,560 blocks/year so 8500 funding tx in a block...nope! 
Of course we could batch those tx, there would be an improvement, but still, nowhere near enough!
The only way is to abandon the principle of not your channel not your coins, lols, and go for a centralized custodial solution again!
And we're back to square one, why even use it?

The direction of your post is correct, but I would not make it so simple to claim that ideological reasons for not spending Bitcoin are the primary reason for which current on chain use is low. I think we see these trends across shitcoins too so that indicates that this claimed cause here is not the primary factor that determines the current situation. 

USDT and USDC are taking market share here, on this damn bitcointalk forum, 5 years ago Bitcoin was the undisputed king here, now apart from collectibles and signatures stablecoins have takn over all deals. Loans in BTC? A thing of the past! Asic miners? USD only!

[Jostern]

Are you asking if Bitcoin can power all online transactions only? That's false, because what will happen to other centralised payment businesses? Bitcoin can't kill other payments solutions to take over all by itself.

We have talked about this many times on the forum, Bitcoin can only and always be an option, I am sorry to burst it all this way, even it's LN can't take over because let's be realistic, there are many payment solutions that are way convenient for some people than Bitcoin.

Many humans still find Bitcoin as means of payment too complicated, and it's because of this is why payment options must not be limited for one, many will always be welcome.

I think bitcoin can gradually get there to power all online transactions, but the challenge with bitcoin is that so many countries haven’t yet accepted bitcoin because they don’t have any control over bitcoin, and there are people also who doesn’t know bitcoin, some have heard about bitcoin but doesn’t understand how bitcoin  actually works and how it’s operated, outside from bitcoin being a store of value, where by people can invest and hold bitcoin permanently as much as they desire, I don’t think Bitcoin can kill other means of payments with fiats, when you said way more other convenient means of payments that people can use I’m just wondering, which means of payment is more convenient than bitcoin now, when you decide to send money to someone who is in another country or continent, I don’t see any means as fast as bitcoin yet, so I think bitcoin can takeover, people who aren’t educated and doesn’t have knowledge about bitcoin are most likely to find bitcoin transactions inconvenient.

[PVequalNRT]

It will probably rely on the acceptance by people and technology development. In my personal opinion, Bitcoin will be significant payment alternative on-line. Its utilization is still growing day after day, however. Bitcoin has been called the "store of value" or "digital gold. However, its primary intent was likely to be peer-to-peer electronic cash, initially. So what will happen in the future is not certain. But common sense is that more will adopt Bitcoin only when they know how to use Bitcoin or it becomes easy for them and they are not afraid of the volatility of the Bitcoin market. Currently, Bitcoin is being seen as an investment opportunity. The people are now saving their money in Bitcoin and in future it is predicted to further rise.

For Bitcoin to be globally attracting transactions from people, I think we need to properly educate people about the benefit of Bitcoin transactions. Many people are used to the traditional transaction method, they are totally committed to traditional transactions and don't care about Bitcoin even though they know Bitcoin exist. It's left for them to have one thing to be convinced they need Bitcoin. If you do this, you don't need to force people to use it globally for transactions.

Some people that own traditional platforms don't like the fact that Bitcoin exist, if Bitcoin take over, it's going to affect their businesses. Imagine that Visa and PayPal lose 1/2 of it's customer because they want to use Bitcoin, it's going to cost them. They will not like Bitcoin to over take their business.